Who is required to register for Corporate Tax in UAE?
Businesses that are Resident in the UAE, Incorporated in the UAE, and Conducting business in the UAE are subject to Corporate Tax and must register with the FTA in the UAE.
Make Your Corporate Tax Registration journey easy with GreenLine!
As companies grow well and develop in the country, the UAE government has implemented Corporate Tax regulations to ensure their contribution to the growth and development of the country. Corporate Tax applies to the profits of the businesses, and the tax rates vary depending on the nature and size of the business. We will simplify the complexities of the Corporate Tax Registration procedure whether you're a thriving business owner or a promising startup, complying and understanding the Corporate Tax guidelines is an essential aspect of this journey and we know how to handle these circumstances.
Corporate Tax Registration in UAE
UAE Corporate Tax Registration is critical for operating business within the UAE because it ensures compliance with the Tax Regulations of the country. Failure to Corporate Tax Registration can cause hefty consequences and penalties, which can create a negative impact on the finances and reputation of the company. Registering for Corporate Tax also provides the benefits of the UAE's Promising Tax Policies, including Low VAT Rates and the absence of personal income tax.
The Procedure of Corporate Tax Registration
- Preliminary Consultation
Our expert tax consultants will conduct a preliminary consultation session with the client to understand the activities, tax obligations, and legal structure of their Business.
- Documentation
We will evaluate the documentation of the client, including the Memorandum and Articles of Association, Trade License, Tax Residency Certificate, Financial Statements, and other supporting documents.
- Tax Registration Application
We will assist the client in completing and submitting the Tax Registration Application to the Federal Tax Authority (FTA) on their behalf.
- FTA Follow-Up
Our teams will regularly follow up with the FTA to ensure the successful completion of the Registration procedure and to promptly resolve any issues or queries.
GreenLine will proudly provide you with tailored solutions, transparency throughout the registration procedure, and proactive guidance to ensure that you stay ahead of the curve and make informed decisions.
Documents for Corporate Tax Registration in UAE
- Trade License and Other Business Permits
- Memorandum and Articles of Association
- Financial Statements
- Tax Residency Certificate
- UAE ID
- Passport Copies
- Annual Financial Audit Report
- Contact Information (Contact Number and E-Mail)
- Company Contact Information (Complete Address and PO Box)
Penalties in UAE Corporate Tax Law
Following are some deadlines and penalties associated with Corporate Tax Registration in UAE:-
- Late Registration Penalty: AED 10,000
- Late VAT Payment Penalty: 2-4% (Daily)
- Failure to Pay on Time: Up to 4% (Monthly)
- Maximum Monthly Penalty: 300%
- Tax Invoice Absence: AED 5,000
- VAT Records Accuracy: AED 50,000
- Repeat Offense Fine: AED 50,000+
- Non-Arabic Record Fine: AED 20,000
Avoid Hefty Fines With Our Tax Experts!
Who is exempted from the UAE Corporate Tax?
Certain businesses may be exempt from Corporate Tax Registration in UAE, which include:
- Government Entities
- Government Controlled Entities
- Individuals operating an Extractive Business that meets the Article 7 conditions of this Decree-Law
- Individuals operating a Non-Extractive Natural Resource Business that meets the Article 8 conditions of this Decree-Law
- Qualifying Public Benefit Entities under Article 9 of this Decree-Law
- Qualifying Investment Funds under Article 10 of this Decree-Law
*Even if a business is exempt from Corporate Tax Registration in UAE, it may still be subject to other taxes, including Value Added Tax or customs duties. Hiring professional Corporate Tax Registration services will provide comprehensive guidance for navigating these complexities.
Corporate Tax Registration Services in the UAE
GreenLine has a team of expert and experienced tax consultants who can help companies with all factors of Corporate Tax Registration in UAE, consisting of:
- Understanding the UAE Corporate Tax Regime
- Completing the Corporate Tax Registration Application Form
- Imparting the Essential Supporting Documentation
- Paying the Corporate Tax Registration Fee
- Obtaining the Corporate Tax Registration Number (CTRN)
Along with the above Corporate Tax services, we also offer businesses with guidance and advice on the following tax matters:
- Corporate Tax Exemptions and Deductions
- Calculation of Corporate Tax Liability
- Corporate Tax Returns Filing
